Fifth Third Bank will be the ninth-largest bank in the United States after it acquires Comerica.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The $10.9 billion merger between the lender and the Texas-based region ...

Fifth Third Bancorp (FITB) has agreed to purchase Dallas-based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, executives for Fifth Third and Comerica expect the deal to close at the end of the first quarter of next year, creating one of the nation's largest US commercial banks with $288 billion in total assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's mega banks as it seeks t ...

Fifth Third bank (FITB) has agreed to purchase Dallas, Texas based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, the deal would create the nation's 9th largest bank with $288 billion in assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's mega banks as it seeks to expand in the Southeast and Southwest. Comerica's stock rose 14% in early Monday trading. Its up just as much for t ...

Fifth Third Bancorp (FITB) has agreed to purchase Dallas-based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, executives for Fifth Third and Comerica expect the deal to close at the end of the first quarter of next year, creating the nation's ninth-largest US commercial bank, with $288 billion in total assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's megabanks as it seeks to ...

Fifth Third Bancorp (FITB) has agreed to purchase Dallas-based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, the deal would create the nation's ninth-largest bank, with $288 billion in assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's megabanks as it seeks to expand in the Southeast and Southwest. Comerica's stock rose 14% in early Monday trading. It's up just as much for th ...

涉及的公司与行业 * 公司：Fifth Third Bancorp (FITB) 与 Comerica [1][3] * 行业：银行业，特别是区域银行 [5][9][16] 交易核心财务要点与论据 * 交易条款：Comerica股东每股将获得1.8663股Fifth Third股票，相当于每股82.88美元的收购价，较Comerica 10日成交量加权平均价有20%溢价 [12] * 交易价值：基于Fifth Third 10月3日收盘价，总交易价值为109亿美元 [12] * 估值倍数：有形账面价值倍数1.73倍，完全标记后为1.75倍，预计2026年市盈率为15.4倍，计入全部成本节约后为7.9倍 [12][13] * 财务影响：交易预计不产生每股有形账面价值稀释，不计并购费用则首日产生5%的增值 [4] * 盈利增厚与回报：预计2027年每股收益增厚9%，内部回报率为22%，优于有机增长替代方案的中等 teens 水平 [4][13][17] * 成本协同效应：已识别并建模的成本节约相当于Comerica预计2026年非利息支出的35%，资本化价值为65亿美元 [4][13] * 一次性费用与会计处理：税后一次性费用估计为9.5亿美元，约为模型化协同效应的1.5倍 [13] * 资产负债表调整：其可供出售证券组合的利率标记估计为17亿美元，将在8.5年内计入收益 [14] * 信贷与无形资产：预计记录约8亿美元的信贷标记，核心存款无形资产估计为13亿美元，将在10年内摊销 [16] * 资本状况：交易完成时普通股权一级资本比率预计为10%，包括累积其他综合收益中未实现损失后为8.6%，公司将暂停所有股票回购活动直至交易完成 [16] 战略与运营协同要点与论据 * 业务互补性：结合Comerica的细分化商业贷款组合与Fifth Third的细分化零售存款基础，形成多元化的资产负债表和收入结构 [5] * 风险集中度降低：合并后公司的全国性信贷集中度从44%降低至36% [5] * 存款与费用收入质量：活期存款将占总存款的29%，高于同行，62%的费用收入将来自经常性来源 [5] * 盈利能力提升：预计2027年成本节约完全实现后，有形普通股权益回报率将大于19%，效率比率将降至低至中等50%区间，在同行中位列第一 [6] * 地域扩张与市场地位：合并后将在美国20个增长最快的大型都会区中的17个运营，通过开设150家新网点加强在德克萨斯州的布局，目标在达拉斯、休斯顿和奥斯汀进入前三名 [6][7][17] * 特定业务线增强：商业支付业务在商业借款人中的渗透率将超过80%，财富与资产管理业务的托管资产将超过7500亿美元，成为区域银行中最大的平台之一 [8][9] * 零售网络潜力：Comerica现有零售网点的区位吸引力在区域同行中排名第一，Fifth Third计划利用其成熟的网点开设经验提升密度和增长 [25][26][32] 整合执行与风险管控要点与论据 * 过往成功经验：参考2018年与MB Financial的合并，当时超出了费用协同目标并保留了关键领导层，在竞争激烈的芝加哥市场获得了更高的市场份额 [9][42][44] * 整合团队与计划：由经验丰富的团队领导整合，计划保护被收购公司的核心优势（"皇冠上的明珠"）并留住关键人才 [42][44][69] * 文化融合：有证据支持强大的文化契合度，包括前Comerica员工在Fifth Third管理团队中的成功，以及Comerica首席执行官Kurt Farmer将在合并后担任银行副主席 [10][71] * 人才保留：将通过明确的角色、机会沟通以及战略论据的有效性来应对潜在的人才流失风险 [69][70] * 增长约束解决：认为Comerica过去增长受限主要源于资金约束和监管开销，合并后将通过更大的资产负债表和更精细的资金状况消除这些限制 [24][79][82] 其他重要内容 * 社区承诺：公司宣布在合并完成后将Fifth Third的最低工资提高至每小时21美元，并继续支持达拉斯和底特律社区 [10][11] * 交易时机：Comerica方面表示，考虑到行业环境、增加规模以应对技术、营销和监管费用上升的挑战，当前是进行战略合作的合适时机 [60][62][63] * 利率风险管控：计划利用持有至到期投资组合和互换头寸的组合，在合并后保持相对中性的利率风险立场 [50][51]

Fifth Third Bank announced on Monday that it will acquire Dallas-based financial services company Comerica in an all-stock transaction valued at approximately $10.9 billion, creating the ninth-largest... ...

US bank Fifth Third Bancorp announced Monday that it will acquire regional lender Comerica in an all-stock transaction valued at $10.9 billion, creating the ninth-largest bank in the country.Under the deal, Comerica shareholders will receive 1.8663 Fifth Third shares for each Comerica share, representing $82.88 per share, a roughly 20% premium to Comerica's recent average stock price. Post-merger, Fifth Third shareholders will own about 73% of the combined entity, while Comerica shareholders will hold 27%.T ...

业绩总结 - 合并后资产总额为2880亿美元，贷款总额为1740亿美元[12] - 存款总额为2240亿美元[13] - 预计在未来两年内，公司将实现更稳定和更盈利的运营[15] - 预计实现19%以上的股东权益回报率（ROTCE），较之前提高200个基点[25] - 效率比率预计在低至中50%之间，改善200个基点[25] - Fifth Third的费用效率比率为56.7%，低于同行的60.4%[72] - 预计2027年Fifth Third的ROTCE将超过19%[41] - 预计2027年Fifth Third的每股收益（EPS）为4.89美元，较共识预期增加0.39美元（9%）[90][91] - 交易后，Fifth Third的净收入预计为43.44亿美元[90] 用户数据与市场地位 - 在中西部市场中，公司的市场地位为第二，所有中西部州均排名前四[26] - Fifth Third在密歇根州的零售存款市场份额排名第一，预计将增加20%的中型市场销售团队[49] - 预计在快速增长的东南部和德克萨斯市场中，达到前五的市场份额[26] - Fifth Third的中型市场贷款预计从2018年的47亿美元增长到2025年的188亿美元，增长幅度为+288%[57] 未来展望与战略 - 预计长期将成为增长的平台，推动市场领导地位和扩张[21] - 预计将创建一个国家级中型市场银行，具备专业垂直业务[26] - 识别并实现的费用协同效应预计将带来22%的内部收益率（IRR），优于有机增长替代方案[24] - 预计在2026年实现65亿美元的资本化价值，基于850百万美元的费用协同效应[27] - 预计在2026年实现成本协同效应8.5亿美元，约占Comerica 2026年运营费用的35%[83] - 预计2026年将实现850百万美元的费用协同效应，占Comerica预计非利息费用基数的35%[27] - Fifth Third计划在2030年前在达拉斯、休斯顿和奥斯汀实现前三名的市场份额[54] 并购与交易信息 - Fifth Third以每股44.41美元的价格收购Comerica，交易总额为109亿美元，溢价为20%[27] - 交易预计于2026年3月31日完成，采用固定交换比例1.8663x，100%为股票交易[83] - 交易完成后，Fifth Third的预期持股比例为73%，Comerica为27%[27] - 交易产生的商誉为33.91亿美元[88] - 交易完成时，Fifth Third的有形普通股权益为146.62亿美元[85] - 交易完成时，Fifth Third的每股有形账面价值在交易完成时为22.47美元，较交易前增加0.01美元（0.1%）[85] - Comerica预计2026年净利息收入(NII)将减少约4000万美元，之后每年影响约1.1亿美元[83] - 重组费用预计为13亿美元，相当于完全实施的成本节约的1.5倍[83] - 交易完成时，Comerica的贷款估计损失准备金的1.6%为8.06亿美元[83]

Herman, you've been talking about it for years. We've been having that conversation with you. It's coming. It's coming.These guys are going to get together. Here it is. How widely expected was this particular tie up.Yes. So this deal actually reinforces the fact that larger Midwest regional banks are expanding into higher growth markets. You've seen this with PNC in the First Bank transaction. You've seen this with Huntington in Ohio expanding into Texas with various acts.And this is a continuation of that ...